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Using Stewardship Reports for Large Accounts

Claims managers agreed that stewardship reports for large accounts should ideally be reviewed three, six and nine months after renewal. This, along along with other administrative matters relating to stewardship reports were discussed at a recent claims managers practice group conference call.

Discussions included several sample documents, provided by Brad Larsen at Buckner Company, including:

  • Worksheet for creating stewardship timelines.
  • Cyber liability comparison form.
  • Claims review form.

Here are some of the comments and questions from the teleconference.

  • Do you involve carriers in reviewing claims or do this on your own? Both. If clients are no longer on risk, carriers sometimes want to pull back on service delivery. There is a lot to be said for doing it yourself, especially if carriers want to charge for reports.
  • Ask clients if they are aware of any circumstances that could result in a claim when the policy approaches renewal. Remind them that under certain circumstances, they must report a claim within 30 to 60 days after a policy expires to have coverage.
  • The Epic agency management system has a good system for creating reminders. “It’s efficient and a good way to avoid keeping everything in my personal diary, although I still do.”
  • A central calendar should outline the commitments made to each client.
  • A workers comp review is typically created three months after renewal, and data is due to NCCI 6 months post-renewal.
  • We have an annual service team meeting with loss control and production on large accounts. We want to look at revenues and service hours three to four months before renewal. We get an agreement with the producer and the client on how many hours we can spend and how many meetings are appropriate. “The client needs to have the perception, as well as the reality, that we are constantly following up.”
  • Some clients don’t want to see you four times a year or don’t have the volume to merit meetings that frequently. Once we build a relationship with a client, we may be able to do conference calls rather than face-to-face meetings or make intermittent calls on a particular claim. The right amount of service will not be the same for every client.
  • We have three tiers of service levels, based on volume. The lowest is somewhat reactionary. Time lines are written for the highest level. Each service level is based on revenue generated and producers are charged back $250 to $500 per account.
  • Most carriers other than Travelers are unwilling to share benchmark data on how clients compare with others in the industry. Travelers will only share data with current clients.
  • Zurich shared benchmark data with one client on a major construction account. “It’s not something Zurich normally does and I think it was because of the size of the account. They’re the only other carrier I’ve found willing to share data.”
  • How do you suggest starting a stewardship-reporting program? Start with one batch of clients and then move on to the lower level.


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